Why LiveWire Group Stock Is Surging Today

LiveWire Group Inc LVWR shares are trading higher Monday after new data regarding the company's SPAC merger was released.

What To Know: LiveWire previously represented the electric division of iconic American motorcycle brand Harley-Davidson Inc HOG. Livewire made its public debut last week following a spin off from Hardley-Davidson via SPAC merger with AEA-Bridges Impact.

LiveWire on Monday announced that holders of 36,597,112 Class A ordinary shares exercised their redemption rights and an aggregate of more than $368 million was paid from the company’s trust account.

After giving effect to the business combination, the redemption of initial shares and the consummation of the PIPE Investments, there are currently 202,402,888 shares of LiveWire common stock issued and outstanding.

See Also: Why Tesla Stock Is Falling Today

LVWR Price Action: LiveWire shares surged above $13 in premarket trading before pulling back.

The stock was up 22.8% at $8.82 at time of publication, according to Benzinga Pro.

Photo: David Mark from Pixabay.